Softbank Group Corp. · TSE:9984
Softbank — Q1 FY2022 Earnings Presentation
29 slides from Softbank's earnings presentation, August 2022
Slide 1: Investor Briefing: SoftBank Vision & LatAm Funds
QUARTER ENDED JUNE 30, 2022 Investor Briefing SoftBank Vision & LatAm Funds NAVNEET GOVIL Managing Partner & Chief Financial Officer SoftBank Investment Advisers
Slide 2: Important Information (1 of 2)
2 Important Information (1 of 2) This presentation (this “Presentation”) is furnished to you for informational purposes in connection with the interests of SoftBank Group Corp. (together with its affiliates, “SoftBank”) in SoftBank Vision Fund L.P. (together with, as the context may require, any par
Slide 3: Important Information (2 of 2)
3 Important Information (2 of 2) Vision Fund I performance herein is based on unrealized valuations of portfolio investments. Valuations of unrealized investments are based on assumptions and factors (including, for example, as of the date of the valuation, average multiples of comparable companies,
Slide 4: Topics
4 Topics 01- Progress & Highlights 02- Performance & Impact on SoftBank Group (SBG) 03- In Focus: Conviction & Resilience in Times of Uncertainty
Slide 5: Progress & Highlights
Progress & Highlights == OoftBank Investment Advisers
Slide 6: Public Markets are Undergoing a Historic Correction
P RO G RE S S & H I G H L I G H T S 6 Public Markets are Undergoing a Historic Correction MARKET BACKDROP SEVERE BEAR MARKETS SINCE LATE 1800s S&P 500 Total Return Index: Real Annual Returns1 60% 40% 20% 0% -20% Post Dot-Com Bust 2022 -40% Great WWII YTD1 Depression Oil Global WWI Shock Financial Cr
Slide 7: Performance Snapshot
SVF1 SVF2 LATAM 7 SoftBank SoftBank SoftBank Vision Fund 1 Vision Fund 2 LatAm Funds Combined Total Commitment $98.6B $56.0B $7.6B $162.2B PROGRESS & HIGHLIGHTS Performance Acquisition Cost1 $87.7B $49.1B $7.2B $144.0B Snapshot Cumulative Investment $20.4B $(9.3B) $(0.1B) $11.0B Gains/(Losses)1 As o
Slide 8: Valuation Framework for Private Assets
8 Comparable Company Multiples SVF1 SVF2 LATAM PROGRESS & HIGHLIGHTS Valuation Framework for Triangulation Private Assets of Valuation Methodologies Discounted Cash Flows Initial & Follow-On Rounds of Financing There can be no assurance that the operations and/or processes of the Managers and SoftBa
Slide 9: Key Valuation Considerations
SVF1 SVF2 LATAM P RO G RE S S & H I G H L I G H T S 9 Key Valuation Considerations Market Income Recent Transaction Approach Approach Approach Geographic Market Sizing Market Share Recency of Institutional vs. Retail Sector Performance Comparability Analysis Analysis Transaction Investors Business M
Slide 10: Strong Track Record of Public Listings Since Inception
SVF1 SVF2 LATAM P RO G RE S S & H I G H L I G H T S 10 Strong Track Record of Public Listings Since Inception As of June 30, 2022 SVF1 SVF2 LATAM 47 Total Listings BEIKE Since Inception of the Funds1,2 Footnotes: 1. 10x Genomics fully exited on August 18, 2020. Slack Technologies fully exited on Sep
Slide 11: GoTo is Indonesia's Most Valuable Tech Company
SVF1 P RO G RE S S & H I G H L I G H T S 11 GoTo is Indonesia’s Most Valuable Tech Company As of June 30, 2022 1 2 3 Gross MOIC Gross Gain Market Cap IDX: GOTO 3.2x $1.9B $30.8B Cost4 Trading Activity5 JUNE 30, 2022 +13% IPO – APRIL 11, 2022 NOVEMBER 21, 2018 2022 Footnotes: 1. Gross MOIC (Gross Mul
Slide 12: Delhivery IPO Amongst Largest-Ever Tech Listings in India
SVF1 P RO G RE S S & H I G H L I G H T S 12 Delhivery IPO Amongst Largest-Ever Tech Listings in India As of June 30, 2022 1 2 3 Gross MOIC Gross Gain Market Cap NSE: DELHIVERY 2.3x $0.5B $4.6B Cost4 Trading Activity5 JUNE 30, 2022 +10% IPO – MAY 24, 2022 MARCH 05, 2019 2022 Footnotes: 1. Gross MOIC
Slide 13: Symbotic Continues to Reinvent the Supply Chain
SVF2 P RO G RE S S & H I G H L I G H T S 13 Symbotic Continues to Reinvent the Supply Chain SVFC1 completed its merger with Symbotic on June 7, 2022, raising $450mm in primary proceeds Our Approach Path to Profitability Strong Unit Economics AI-Powered Highlights Recent Performance Cost & Trading Ac
Slide 14: Recent Significant Exits
SVF1 SVF2 P RO G RE S S & H I G H L I G H T S 14 Recent Significant Exits1 As of July 31, 2022 Gross Realized Proceeds5 Portfolio Company Cost / Share2 Avg. Sale Price / Share2 $11.05 Gross Realized Gross Investment Gain4 IRR7 JV $1,025 +$5.6B SVF1 $6.11 Gross Investment Cost3 MOIC6 $34.50 $9.8B SVF
Slide 15: Performance & Impact on SoftBank Group (SBG)
15 Performance & Impact on SoftBank Group (SBG)
Slide 16: SVF1 Contribution to SBG, Net of 3rd Party Interests
16 SVF1 2022 Inception to Jun 30 SVF1 Fund Net Profit2 $10.8 PERFORMANCE & IMPACT ON SBG Less: Change in 3rd Party Contribution to Interests in Fund (5.4) SBG, Net of 3rd SBG LP Income: 5.4 Share of Fund Net Profit Party Interests1,3 SBG GP Income: Amounts in USD Billions 0.9 Management & Performanc
Slide 17: Contribution to SBG: SVF1
17 SBG Paid-In Capital1 SVF1 PERFORMANCE & IMPACT ON SBG Contribution to SBG SBG Total Value2 As of June 30, 2022 Net Asset Value3 Distributions4 Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return of Recallable unutilized Contributions. 2. SBG To
Slide 18: Contribution to SBG: SVF2
18 SBG Paid-In Capital1 SVF2 PERFORMANCE & IMPACT ON SBG Contribution to SBG SBG Total Value2 As of June 30, 2022 Net Asset Value3 Distributions4 Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return of Recallable unutilized Contributions. 2. SBG To
Slide 19: Contribution to SBG: LatAm
19 SBG Paid-In Capital1 LATAM PERFORMANCE & IMPACT ON SBG Contribution to SBG SBG Total Value2 Net Asset Value3 As of June 30, 2022 Distributions4 Accrued & Paid Performance Fees5 Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return of Recallable u
Slide 20: In Focus: Conviction & Resilience in Times of Uncertainty
20 In Focus: Conviction & Resilience in Times of Uncertainty
Slide 21: Conviction & Resilience in Times of Uncertainty
SVF1 SVF2 LATAM C O NV I C T I O N & RE S I L I E NC E I N T I M E S O F U NC E RT A I NT Y 21 Conviction & Resilience in Times of Uncertainty OUR INVESTMENT THESIS 01 – 02 – AI-Powered Continued Embedded Conviction Resilience Disruptor The Power of the Highly Diversified Portfolio, Large Addressabl
Slide 22: Disciplined Focus on Monetization
SVF1 SVF2 LATAM C O NV I C T I O N & RE S I L I E NC E I N T I M E S O F U NC E RT A I NT Y 22 Disciplined Focus on Monetization Inception to June 30, 2022 Cumulative Distributions Since Inception1 $51.6B 2019 SVF2 LAUNCH LATAM LAUNCH 2017 $29.1B SVF1 LAUNCH $11.6B $6.3B $2.3B 2018 2019 2020 2021 Ju
Slide 23: Portfolio Companies Poised to List Publicly
SVF1 SVF2 LATAM C O NV I C T I O N & RE S I L I E NC E I N T I M E S O F U NC E RT A I NT Y 23 Portfolio Companies Poised to List Publicly Inception to June 30, 2022 NUMBER OF GLOBAL DEAL LISTINGS PER QUARTER 1 800 600 Total FV, Series E or Later2 400 Public Listing Readiness Strong Fundamentals Sus
Slide 24: Disruptive Business Models to Unlock Significant Value
SVF1 C O NV I C T I O N & RE S I L I E NC E I N T I M E S O F U NC E RT A I NT Y 24 Disruptive Business Models to Unlock Significant Value As of June 30, 2022 Long-Term Value Creation TOTAL F A I R V A L U E 10 Chips Shipped2 Monthly Active Users3 # of Sports Partnerships4 Market Share – Instant Nee
Slide 25: Portfolio Companies Continue to Achieve Strong Revenue Growth
25 Our portfolio companies are achieving healthy top-line growth SVF2 LATAM CONVICTION & RESILIENCE IN Percentage of Portfolio Companies Achieving >50% Annual Revenue Growth 1 TIMES OF UNCERTAINTY Portfolio Companies Continue to Achieve Strong Revenue Growth 76% 78% As of June 30, 2022 SVF2 LATAM Fo
Slide 26: Portfolio Companies are Well-Capitalized with Ample Cash Runway
SVF1 SVF2 LATAM C O NV I C T I O N & RE S I L I E NC E I N T I M E S O F U NC E RT A I NT Y 26 Portfolio Companies are Well-Capitalized with Ample Cash Runway As of June 30, 2022 Portfolio Companies with 12+ Months Cash Runway Portfolio Companies Continue to Access By Fair Value1 Capital via Broad I
Slide 27: Highly Diversified Portfolio of 469 Companies
SVF1 SVF2 LATAM C O NV I C T I O N & RE S I L I E NC E I N T I M E S O F U NC E RT A I NT Y 27 Highly Diversified Portfolio of 469 Companies As of June 30, 2022 % COST BY SECTOR1 COST BY GEOGRAPHY2 Frontier Tech Proptech Transportation Enterprise Health Tech (IN USD BILLIONS) 12% 12% 22% 8% 5% Inter
Slide 28: Conviction in the AI Revolution & Our Resilient Platform
SVF1 SVF2 LATAM C O NV I C T I O N & RE S I L I E NC E I N T I M E S O F U NC E RT A I NT Y 28 Conviction in the AI Revolution & Our Resilient Platform Market Cap Growth1 01 – 02 – Continued Embedded Conviction Resilience The AI Highly Diversified Revolution Portfolio Strong Portfolio Portfolio Comp
Slide 29: Thank You
29 Thank You SoftBank Vision & LatAm Funds Investor Briefing Presentations Available at visionfund.com/presentations